The Denver Post reported that Level 3 Communications (LVLT) plans to spend $3.3B-$3.4B this year -- a lot for a company with a $7.9B debt load to service and a revenue forecast that could be sapped further by economy's woes.

Six Flags (PKS ) is seen lower on the news that a woman

died this weekend after a roller coaster ride at Six

Flags in California.

Barron's reported that Archie MacAllaster likes Frontier Oil (FTO ) for its EPS growth and fat margins, and estimates the company will make over $4/share in 2001, and that the stock could easily trade in the upper teens.

JP Morgan upgraded Profit Recovery (PRGX ) to long-term buy

from market perform.

Goldman initiated coverage on Earthlink (ELNK ) with trading buy.

Barron's says Krispy Kreme (KKD ) stock's recent surge may have to do with short-covering. The stock price is perhaps high enough to tempt insiders to part with more stock. On Friday, S&P initiated coverage with sell.

Cypress Semiconductor (CY) sees lower than expected breakeven-$0.02 Q2 EPS before goodwill, on $175M-$185M revenues. Cypress cited a lack of improvement in the market segments the company serves.

AXT Inc. (AXTI ) sees $0.07-$0.10 Q3 EPS on $27M-$31M revenue. The company says it has received significant product cancellations from several large gallium arsenide customers. It notes Q2 guidance is unchanged from the previous announcement. Pacific Growth cuts estimates.

PW Eagle Inc. (PWEI ) cut its Q2 net sales guidance from $82M-$90M to $76M-$80M, and cut the EPS from $0.30-$0.50 to a $0.14 loss to $0.10 EPS. The company cited an unanticipated net decrease in the weighted ASP of its products in May.

Nanophase Technology (NANX ) will not proceed with a proposed relationship with a European company for development, manufacture and joint

marketing of anenvironmental catalytic fuel additive;

this will impact 2001 revenues by $2M-$2.5M.

Exponent Inc. ( EXPO ) sees $0.10-$0.16 Q2 EPS on revenue of $24.5M-$25.5M. Exponet cited a step-down in revenues coming from the company's Land Warrior project with the U.S. Army, and the soft real estate market in Silicon Valley.

FDA granted ArthroCare (ARTC ) clearance to market its Perc-D family of disposable surgical devices for disc decompression to

treat symptomatic patients with contained herniated

discs. Robertson Stephens reiterates buy. S&P maintains accumulate.

Yahoo! (YHOO ) and the Consumers Union, the publisher of Consumer Reports

magazine, ConsumerReports.org, announced a premium

content distribution agreement to distribute Consumer

Reports on the Yahoo network.

Cobalt Group (CBLT ) agreed to be acquired by Warburg Pincus for about $3.50 per share.